UCLA To Receive $200 Million Through Transfer From Lincy Foundation
I am delighted to inform you that UCLA is once again the recipient of an extraordinarily generous and inspirational gift that will greatly enhance our ability to meet our aspirations as one of the world’s leading research universities.
The Lincy Foundation, founded by Kirk Kerkorian, will transfer to UCLA all of its assets, currently valued at approximately $200 million, pending government approval. The gift will establish the Dream Fund, which will be used for student support, research and academic programs. The Dream Fund also will support charitable causes beyond our campus, particularly those that address large societal concerns, which, as the Lincy Foundation’s long-standing focus, is strongly aligned with UCLA’s public mission.
Solving society’s most pressing problems requires a partnership among research universities, public support and private philanthropy. As state resources dwindle, UCLA faces continued and serious challenges in funding our core operations. Philanthropy is crucial in helping us to thrive as a center for transformational research, innovative instruction, and durable and effective community partnerships.
The Dream Fund’s impressive scale and flexibility will enable us to undertake new innovative and impactful scholarship that we otherwise could not—and it will significantly enhance our ability to respond to some of society’s most pressing needs.
Following last month’s landmark gift from Meyer and Renee Luskin, and numerous other recent generous contributions, the Lincy Foundation gift is yet another testament to our community’s enduring belief in UCLA’s important role as an engine for the public good. It also is a clear vote of confidence in the strength of The UCLA Foundation, which will administer the fund.
We are deeply grateful for the Lincy Foundation’s bold action and the legacy it will create for current and future generations of UCLA students and faculty. I invite you to learn more about the Dream Fund on UCLA Newsroom.
Gene D. Block
February 14, 2011